KUALA LUMPUR: Ranhill Bhd has received a takeover offer from its major shareholders at 90 sen per share, led by its president and chief executive Tan Sri Hamdan Mohamad. At 90 sen, this was a premium of 15 sen or 20% above the last traded price of 75 sen on Monday.
The parties acting in concert with him are Cheval Infrastructure Fund L.P. (acting via its general partner, TAEL Management Co. (Cayman) Ltd), Ranhill Corporation Sdn Bhd, Lambang Optima Sdn Bhd and Pacific Energy Overseas Ltd. They jointly own a 51.86% stake.
Ranhill said on Tuesday, Aug 9 the parties made the offer to acquire all the remaining shares they do not already own via Maybank Investment Bank Bhd.
“In relation to the offer, the board of directors of Ranhill will upon its deliberation, announce whether it intends to seek an alternative person to make a take-over offer for the offer shares,” it said. They do not intend to retain the listing status.
Trading in Ranhill shares has been halted from 9am and will resume at 2.30pm.